THE UTTAR PRADESH ELECTRICITY REGULATORY COMMISSION LUCKNOW Petition Nos. 647, 648, 649, 650, 651, 652, 653, 654, 655 and 656 of 2010 FILED BY UP Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) IN THE MATTER OF: Determination of Multi Year Tariff (MYT) and approval of Annual Revenue Requirement (ARR) for Thermal Power Stations of U.P. Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) for F.Y. 2009-10 to 2013-14. Anpara ‘A’ Anpara ‘B’ Obra ‘A’ Obra ‘B’ Panki Harduaganj Parichha Parichha Extension Harduaganj Extension Parichha Extension Stage-II Lucknow Dated : 20 th January, 2011
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THE UTTAR PRADESH ELECTRICITY REGULATORY COMMISSION
LUCKNOW
Petition Nos. 647, 648, 649, 650, 651, 652, 653, 65 4, 655 and 656 of 2010
FILED BY
UP Rajya Vidyut Utpadan Nigam Limited (UPRVUNL)
IN THE MATTER OF:
Determination of Multi Year Tariff (MYT) and approval of Annual Revenue
Requirement (ARR) for Thermal Power Stations of U.P. Rajya Vidyut Utpadan Nigam
Limited (UPRVUNL) for F.Y. 2009-10 to 2013-14.
Anpara ‘A’
Anpara ‘B’
Obra ‘A’
Obra ‘B’
Panki
Harduaganj
Parichha
Parichha Extension
Harduaganj Extension
Parichha Extension Stage-II
Lucknow
Dated : 20 th January, 2011
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 2 of 176
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 3 of 176
Table of Content s
1. FOREWORD 2. BACKGROUND
(A) Regulatory Framework (B) Earlier Tariff Orders (C) Baseline data
3. METHODOLOGY FOR TARIFF DETERMINATION 4. MULTI YEAR TARIFF PETITION FOR FY 2009-10 to 201 3-14
(A) Generation Capacities of UPRVUNL (i) Existing Capacity (ii) Augmentation Plan (iii) Plan for Renovation and Modernization (R & M) (iv) Investment Plan under Corporate Responsibility for
Environment Protection (CREP)
(B) ARR & Tariff submitted by UPRVUNL
5. TARIFF DESIGN 6. COMMISSION’S APPROACH FOR DETERMINATION OF MYT 7. APPROVED MULTI YEAR TARIFF AND ARR
8.1 Recovery of Water Cess and Tax on Income etc. 8.2 Expenses towards implementation of ABT 8.3 Elements of Arrears of Sixth Pay Commission 8.4 Incentive 8.5 Billing & Payment 8.6 Payment of Dues 8.7 Truing up of Capital Expenditure and Tariff 8.8 Commission’s Directive
9. APPROVED TARIFF AND ARR – AT A GLANCE
10. IMPLEMENTATION OF ORDER
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 4 of 176
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 5 of 176
Petition Nos. 647, 648, 649, 650, 651, 652, 653, 65 4, 655 and 656 of 2010
BEFORE
THE UTTAR PRADESH ELECTRICITY REGULATORY COMMISSION
LUCKNOW
Date of Hearing :07.09.2010 Date of Order : 20 .01.2011
PRESENT:
1. Hon’ble Shri Rajesh Awasthi, Chairman
2. Hon’ble Shri Shree Ram, Member
3. Hon’ble Smt Meenakshi Singh, Member
IN THE MATTER OF:
Determination of Multi Year Tariff (MYT) and approv al of Annual Revenue
Requirement (ARR) for Anpara ‘A’, Anpara ‘B’, Obra ‘A’, Obra ‘B’, Panki,
Harduaganj, Parichha, Parichha Extension, Harduagan j Extension and
Parichha Extension Stage-II Thermal Power Stations of U.P. Rajya Vidyut
Utpadan Nigam Limited (UPRVUNL) for F.Y. 2009-10 to 2013-14.
BETWEEN
UP Rajya Vidyut Utpadan Nigam Limited (UPRVUNL),
14th Floor, Shakti Bhawan Ext.,
14, Ashok Marg, Lucknow
--------------- Petitioner
AND
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 6 of 176
1. The Chairman and Managing Director, U.P. Power Corporation Ltd., 7th Floor,
Shakti Bhawan,14, Ashok Marg, Lucknow
2. The Managing Director, Purvanchal Vidyut Vitran Nigam Ltd.,132KV
Substation, Bhikharipur, Vidyut Nagar,Varanasi.
3. The Managing Director, Paschimanchal Vidyut Vitran Nigam Ltd., Victoria Park
5 O & M Expenses 114.66 121.21 128.14 135.51 143.26
6 Com. Allowance 4.10 4.10 4.10 4.10 4.10
Total: 189.35 192.76 196.57 203.94 211.69
The amount of GFA pertaining to Anpara ‘A’ Power Station at the
beginning of F.Y. 2009-10 was ` 809.41 Cr. out of which ` 6.60 Cr. was
invested on land leaving a balance of ` 802.81 Cr.. The maximum
Depreciation as per UPERC (Terms & Conditions of Generation Tariff)
Regulations, 2009 permissible is to the extent of 90% of the value of the
GFA excluding the value of land which works out to ` 722.53 Cr. The
accumulated depreciation allowed till the end of FY 2013-14 is ` 638.40
Cr. which is less than ` 722.53 Cr. therefore, the Commission has
allowed full Depreciation for FY 2009-10 to 2013-14.
The normative amount of Debt works out in the negative for FY 2011-12
onwards which implies that the UPRVUNL has received amounts for
repayment of Debts more than the amount of loans. The amount of
Depreciation has been allowed beyond the amount of Debts to
compensate to the extent of 90% of Fixed Assets Value (excluding land).
As the debts are negative in FY 2011-12 to 2013-14, no interest on loan
is allowed in these years.
(e) Interest on Working Capital:
The amount of Working Capital and Interest on Working Capital for the
control period of F.Y. 2009-10 to 2013-14 as claimed by the Petitioner and
as determined by the Commission are as under:
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 43 of 176
Table 7.1.5 Annual Receivables of Anpara ‘A’ Power Station requ ired for
calculation of Working Capital:
Table 7.1. 5
Working Capital as determined by the Commission
SN
Particulars
2009-10
2010-11
2011-12
2012-13
2013-14
1 Cost of Coal for 1 and ½ month 50.73 53.27 55.93 58.73 61.66
2 Cost of Secondary Fuel Oil for 2 months
5.84 6.13 6.43 6.76 7.09
3 O & M for 1 month 9.56 10.10 10.68 11.29 11.94
4 Maintenance Spares @20% of O & M Exp.
22.93 24.24 25.63 27.10 28.65
5
Receivables equivalent to 2 months charges for sale of electricity
105.03 109.28 113.77 119.05 124.59
6 Working Capital 194.09 203.02 212.44 222.93 233.94
7 Rate of Interest 12.25 12.25 12.25 12.25 12.25 8 I W C 23.78 24.87 26.02 27.31 28.66
*The Cost of fuel has been taken from Tables 7.1.9 and 7.1.10.
Table 7.1. 6 IWC during the Control Period as claimed by UPRVUNL :
Particulars 2009-10 2010-11 2011-12 2012-13 2013-14 Working Capital 188.82 198.09 207.49 225.47 247.72 Rate of Interest 12.25% 12.25% 12.25% 12.25% 12.25% I W C 23.13 24.27 25.42 27.62 30.35
Particulars
2009-10
2010-11
2011-12
2012-13
2013-14
Annual Capacity [Fixed] Charges
189.35 192.76 196.57 203.94 211.69
Cost of Fuel 440.86 462.90 486.05 510.35 535.87 Total Receivables 630.21 655.66 682.61 714.29 747.55
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 44 of 176
(f) Capacity (Fixed) Charge per unit of Generation :
Based on above the capacity charges as claimed by UPRVUNL and as
approved by the Commission are tabulated herein for the MYT period of
F.Y. 2009-10 to 2013-14. Ex-bus energy sent out has been taken from
Table 7.1.10.
Table 7.1.7 Fixed Charges as claimed by UPRVUNL and as approved by the Commission
Particulars FY 10 FY 11
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
As claimed by UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan 16.95 6.26 -10.69 17.24 3.12 -14.12
V. C.on Fuel (` in Cr..) 429.37 486.05 56.68 450.83 510.35 59.52
V. C. per Unit (In paise)
106 120 14 112 126 15
Total Cost (` In Cr..) 676.83 708.64 31.81 754.25 741.60 -12.65
Ex-bus Energy Sent Out (MU)
4040.00 4040.00 0.00 4040.00 4040.00 0.00
Total Cost per Unit (In Paise)
168 175 8 187 184 -3
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 49 of 176
Particulars FY 14
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan 75.67 0.00 -75.67 Depreciation 57.29 28.78 -28.51 A A D 0.00 0.00 0.00 Return on Equity 58.44 35.54 -22.90 O & M Expenses 156.41 143.26 -13.15 Com. Allowance 4.10 4.10 0.00 I W C 30.35 28.66 -1.69 Fixed Cost (` in Cr..) 382.26 240.34 -141.92 F. C. per Unit (In Paise) 95 59 -35 V. C.on Fuel (` in Cr..) 473.38 535.87 62.49 V. C. per Unit (In paise) 117 133 15 Total Cost (` in Cr..) 855.64 776.21 -79.43 Ex-bus Energy Sent Out (MU) 4040.00 4040.00 0.00 Total Cost per Unit (In Paise) 212 192 -20
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 50 of 176
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 51 of 176
7.2
Section - 2
Multi Year Tariff
for
Anpara ‘B’
Thermal Power Station
for
FY 2009 - 10 to FY 2013 - 14
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 52 of 176
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 53 of 176
7.2.1 ARR and MYT as according to petition :
In the petition, UPRVUNL has proposed the fixed, variable and total
charges for the electricity sent out as given in the table below:
A A D 12.46 0.00 -12.46 30.45 0.00 -30.45 Return on Equity 219.69 218.98 -0.71 219.69 218.98 -0.71
O & M Expenses 155.50 145.30 -10.20 164.58 153.60 -10.98
Com. Allowance 3.50 3.50 0.00 3.50 3.50 0.00
I W C 46.97 46.41 -0.56 48.91 47.79 -1.12 Fixed Cost (` in Cr..)
754.58 653.16 -101.42 770.15 637.11 -133.04
F. C. per Unit (In Paise) 116 100 -16 118 98 -20
V. C. on Fuel (` in Cr..)
724.29 802.26 77.97 760.51 842.37 81.86
V. C. per Unit (In paise) 111 123 11.96 117 129 12.56
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 63 of 176
Particulars FY 12 FY 13
As claimed by UPRVUNL
As determined
by the Commission
Diff. (if any)
As claimed by UPRVUNL
As determined
by the Commission
Diff. (if any)
Total Cost (` In Cr..) 1478.87 1455.42 -23.45 1530.66 1479.48 -51.18
Ex-bus Energy Sent Out (kwh) 6517.00 6517.00 0.00 6517.00 6517.00 0.00
Total Cost per Unit (In Paise) 227 223 -4 235 227 -8
Particulars FY 14
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan 98.05 0.00 -98.05 Depreciation 194.08 193.79 -0.29 A A D 30.45 0.00 -30.45 Return on Equity 219.69 218.98 -0.71 O & M Expenses 174.18 162.40 -11.78 Com. Allowance 3.50 3.50 0.00 I W C 50.63 49.40 -1.23 Fixed Cost (` in Cr..) 770.58 628.07 -142.51 F. C. per Unit (In Paise) 118 96 -22 V. C. on Fuel (` in Cr..) 798.53 884.49 85.96 V. C. per Unit (In paise) 123 136 13.19 Total Cost (` in Cr..) 1569.11 1512.56 -56.55 Ex-bus Energy Sent Out (kwh) 6517.00 6517.00 0.00 Total Cost per Unit (In Paise) 241 232 -9
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 64 of 176
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 65 of 176
7.3
Section - 3
Multi Year Tariff
for
Obra ‘A’
Thermal Power Station
for
FY 2009-10 to 2013-14
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 66 of 176
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 67 of 176
7.3.1 ARR and MYT as according to petition
In the petition, UPRVUNL has proposed the fixed, variable and total
charges for the electricity sent out as given in the table below:
Table 7.3. 1
Obra A 2009-10 2010-11 2011-12 2012-13 2013-14
Energy Sent out (MU) 1638 1672 1735 1833 1958
Fixed Charges (`) 0.95 0.97 1.09 1.13 1.12
Variable Charges (`) 1.48 1.54 1.61 1.67 1.74
Total Charges (`) 2.43 2.51 2.70 2.80 2.86
ARR (` In Cr.) 398.034 419.672 468.45 513.24 559.988
7.3.2 ARR and MYT as determined by the Commission
7.3.2.1 Capacity (Fixed) Charges
(a) Provisions under Regulations:
For determination of components of fixed charges for MYT period of FY
2009-10 to 2013-14, the Commission opines that the parameters provided
under UPERC (Terms & Conditions of Generation Tariff) Regulations,
2009 shall be considered. Hence, the Commission has decided to allow
the components of fixed charges as below:
Table 7.3. 2
Components of Fixed Charge Value Remark
Return on Equity 15.5% As per the Regulations
Interest on Loans 11.01% Weighted average of interest on loans for FY 2011-12 to FY 2013-14 as per form 13 of ARR
O & M Expenses As per petition
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 68 of 176
Components of Fixed Charge Value Remark
Compensation Allowance ` 0.65 lacs /MW As per the Regulations
Advance Against Depreciation
Zero As per the Regulations
Interest on working capital 12.25 % As per the Regulations
(b) R & M of Plant
Obra ‘A’ Power Station (382 MW) is more than 35 years old for which a
comprehensive Refurbishment Scheme involving expenditure of Rs
178.50 Cr.. has been approved by the Commission vide order dated
8.12.09.
(c) Gross Fixed Assets (GFA) and its Components
The valuation of GFA duly supported with the financing program and the
value of NFA is essential to be worked out at the end of each financial
year for the determination of Return on Equity, Interest on balance
Loans and Depreciation. Therefore, the GFA and NFA at the end of
each financial year commencing from FY 2009-10 FY 2013-14 has been
worked out alongwith Equity and Debts taking base figures as allowed
Cost of Fuel 262.19 249.32 235.86 336.36 361.94 Total Receivables 400.56 391.91 409.89 514.63 544.86
Table 7.3. 6
Working Capital as determined by the Commission Sl.No. Particulars 2009-10 2010-11 2011-12 2012-13 2013-14
1 Cost of Coal for 1 and ½ month 30.14 28.77 27.41 39.42 42.59
2 Cost of Secondary Fuel Oil for 2 months 3.52 3.20 2.76 3.50 3.54
3
Operation & Maintenance for 1 month
7.72 8.19 8.70 9.24 9.81
4 Maintenance Spares @20% O & M Exp. 18.522 19.66 20.88 22.17 23.54
5
Receivables equivalent to 2 months charges for sale of electricity
66.76 65.32 68.31 85.77 90.81
6 Working Capital 126.65 125.14 128.06 160.09 170.28
7 Rate of Interest 12.25 12.25 12.25 12.25 12.25
8 I W C 15.52 15.33 15.69 19.61 20.86
*The Cost of fuel has been taken from Tables 7.3.9 and 7.3.10.
Table 7.3. 7 IWC during the Control Period as claimed by UPRVUNL
Particulars 2009-10 2010-11 2011-12 2012-13 2013-14 Working Capital 132.34 140.33 153.31 167.22 182.71 Rate of Interest 12.25% 12.25% 12.25% 12.25% 12.25% I W C 16.21 17.19 18.78 20.48 22.38
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 71 of 176
(f) Capacity (Fixed) Charges
Based on above the capacity charges as claimed by UPRVUNL and as
approved by the Commission are tabulated herein for the MYT period of
F.Y. 2009-10 to 2013-14. Ex-bus energy sent out has been taken from
Table 7.3.10.
Table 7.3. 8
Fixed Charges as claimed by UPRVUNL and as approved by the Commission
Particulars FY 10 FY 11 As
claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any) As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan 9.52 23.02 13.50 10.51 21.52 11.01 Depreciation 12.63 13.63 1.00 12.63 13.63 1.00 Advance against Depreciation
0.00 0.00 0.00 0.00 0.00 0.00
Return on Equity 21.68 6.64 -15.04 21.68 6.64 -15.04 O & M Expenses 92.61 92.61 0.00 98.32 98.32 0.00 Compensation Allowance
2.48 2.48 0.00 2.48 2.48 0.00
Interest on Working Capital 16.21 15.52 -0.69 17.19 15.33 -1.86
Total : 155.13 153.89 -1.24 162.81 157.92 -4.89 Ex-bus Energy Sent Out (kwh) 1638.00 1638.48 0.48 1672.00 1475.72 -196.28
Cost per Unit 0.95 0.94 -0.01 0.97 1.07 0.10
Particulars FY 12 FY 13 As
claimed by
UPRVUNL
As determined
by the Commission
Diff. (if
any)
As claimed by UPRVUNL
As determined by the
Commission
Diff. (if any)
Interest on Loan 16.67 34.98 18.31 25.49 32.77 7.28 Depreciation 19.03 20.03 1.00 19.03 20.03 1.00 Advance against Depreciation
0.00 0.00 0.00 1.07 0.00 -1.07
Return on Equity 27.20 12.16 -15.04 27.20 12.16 -15.04 O & M Expenses 104.38 104.38 0.00 110.83 110.83 0.00 Compensation Allowance 2.48 2.48 0.00 2.48 2.48 0.00
Interest on Working Capital 18.78 15.69 -3.09 20.48 19.61 -0.87
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 72 of 176
Particulars FY 12 FY 13 As
claimed by
UPRVUNL
As determined
by the Commission
Diff. (if
any)
As claimed by UPRVUNL
As determined by the
Commission
Diff. (if any)
Total : 188.54 189.72 1.18 206.58 197.88 -8.70 Ex-bus Energy Sent Out (kwh) 1735.00 1323.85
-411.15 1833.00 1900.18 67.18
Cost per Unit 1.09 1.43 0.35 1.13 1.04 -0.09
Particulars FY 14 As claimed
by UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan 22.69 30.57 7.88 Depreciation 19.03 20.03 1.00 Advance against Depreciation 7.83 0.00 -7.83 Return on Equity 27.20 12.16 -15.04 O & M Expenses 117.68 117.68 0.00 Compensation Allowance 2.48 2.48 0.00 Interest on Working Capital 22.38 20.86 -1.52 Total : 219.29 203.78 -15.51 Ex-bus Energy Sent Out (kwh) 1958.00 1957.11 -0.89 Cost per Unit 1.12 1.04 -0.08
7.3.2.2 Variable Charges:
(a) Weighted Average Cost and Gross Calorific Value of Coal and Oil
The UPRVUNL was advised by the Commission to provide the details of
weighted average cost of coal and oil as well as the weighted average
calorific values actually incurred / availed during the financial year 2009-10
which is the first year of the MYT. On the basis of details provided by
UPRVUNL, the cost of coal and oil as well as calorific values has been
worked out as under:
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 73 of 176
Table 7.3. 9
Weighted Average Cost and Gross Calorific Value of Coal and Oil for F.Y. 2009-10 .
Total Cost of Oil @ ` ` In Cr. 21.11 19.19 16.59 20.99 21.22
Total Cost of ` In Cr. 241.08 230.13 219.27 315.37 340.72
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 75 of 176
Description Unit 2009-10 2010-11 2011-12 2012-13 2013-14 Coal @ `
Total Cost of Fuel (Oil & Coal)
` In Cr. 262.19 249.32 235.86 336.36 361.94
Rate of Energy Charges from secondary Fuel Oil Ex-bus
Paise/Kwh 12.88 13.01 12.53 11.05 10.84
Rate of Energy Charges from Coal Ex-bus
Paise/Kwh 147.14 155.94 165.63 165.97 174.09
Rate of Energy Charges Ex-bus per Kwh
Paise/Kwh 160.02 168.95 178.16 177.02 184.94
(c) Adjustment of Rate of Energy Charge on Account of
Variation in price or Heat Value of Fuels:
The above variable cost derived by the Commission on the basis of the
information provided by the UPRVUNL based on provisional annual
accounts report for the Financial Year 2009-10 shall be applicable for the
financial year 2009-10 and thereafter the variable cost have been
derived after allowing normal increase in the cost of fuel @ 5% per year.
However, the beneficiary will make the payment of the variable cost to
be derived on the basis of weighted average cost of oil as well as coal
including the weighted average Gross Calorific Value of both these
elements of fossil foil to be verified by the Practicing Cost Accountant in
support of the same.
“However, UPRVUNL shall be entitled to recover / ad just any
change in fuel cost according to the provisions set out in the
Generation Regulations. Fuel price variation shall be claimed based
on actual audited cost of fuel and GCV on month to month basis.”
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 76 of 176
7.3.2.3 Total Charges (Cost):
The overall tariff comprises two parts, Fixed and Variable. The Annual
Capacity (Fixed) Charge consists of Interest on loan capital, Depreciation,
ROE, O&M, IWC and Compensation Allowance and Energy (Variable)
Charges consists coal and secondary oil cost per kWh of the electricity
generated. The total charges (costs) as determined by the Commission for
Obra ‘A’ Thermal Power Station for the MYT period of 2009-10 to 2013-14
as against claimed by UPRVUNL are summarized in the table below.
Table 7.3. 11 Cost per kWh as claimed by UPRVUNL with those as al lowed
by the Commission
Particulars FY 10 FY 11 As claimed
by UPRVUNL
As determined
by the Commission
Diff. (if any)
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan 9.52 23.02 13.50 10.51 21.52 11.01 Depreciation 12.63 13.63 1.00 12.63 13.63 1.00 A A D 0.00 0.00 0.00 0.00 0.00 0.00 Return on Equity 21.68 6.64 -15.04 21.68 6.64 -15.04 O & M Expenses 92.61 92.61 0.00 98.32 98.32 0.00 Com. Allowance 2.48 2.48 0.00 2.48 2.48 0.00 I W C 16.21 15.52 -0.69 17.19 15.33 -1.86 Fixed Cost (Rs. in Crs.) 155.13 153.89 -1.24 162.81 157.92 -4.89 F. C. per Unit (In Paise) 95 94 -1 97 107 10 V. C. on Fuel (Rs. in Crs.)
242.67 262.19 19.52 257.96 249.32 -8.64
V. C. per Unit (In paise) 148 160 12 154 169 15 Total Cost (Rs. in Crs.) 397.80 416.08 18.28 420.77 407.24 -13.53 Ex-bus Energy Sent Out (kwh)
1638.00 1638.48 0.48 1672.00 1475.72 -196.28
Total Cost per Unit (In Paise) 243 254 11 252 276 24
Particulars FY 12 FY 13
As claimed by
UPRVUNL
As determined
by the Commissio
n
Diff. (if any)
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan 16.67 34.98 18.31 25.49 32.77 7.28 Depreciation 19.03 20.03 1.00 19.03 20.03 1.00 A A D 0.00 0.00 0.00 1.07 0.00 -1.07 Return on Equity 27.20 12.16 -15.04 27.20 12.16 -15.04 O & M Expenses 104.38 104.38 0.00 110.83 110.83 0.00
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 77 of 176
Particulars FY 12 FY 13 As claimed
by UPRVUNL
As determined
by the Commissio
n
Diff. (if any)
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
Com. Allowance 2.48 2.48 0.00 2.48 2.48 0.00 I W C 18.78 15.69 -3.09 20.48 19.61 -0.87 Fixed Cost (Rs. in Crs.) 188.54 189.72 1.18 206.58 197.88 -8.70 F. C. per Unit (In Paise) 109 143 35 113 104 -9 V. C. on Fuel (Rs. in Crs.) 278.93 235.86 -43.07 306.25 336.36 30.11
V. C. per Unit (In paise) 161 178 17 167 177 10 Total Cost (Rs. in Crs.) 467.47 425.58 -41.89 512.83 534.25 21.42 Ex-bus Energy Sent Out (kwh) 1735.00 1323.85 -411.15 1833.00 1900.18 67.18
Total Cost per Unit (In Paise) 269 321 52 280 281 1
Particulars FY 14 As claimed
by UPRVUNL
As determined by the
Commission
Diff. (if any)
Interest on Loan 22.69 30.57 7.88 Depreciation 19.03 20.03 1.00 A A D 7.83 0.00 -7.83 Return on Equity 27.20 12.16 -15.04 O & M Expenses 117.68 117.68 0.00 Com. Allowance 2.48 2.48 0.00 I W C 22.38 20.86 -1.52 Fixed Cost (Rs. in Crs.) 219.29 203.78 -15.51 F. C. per Unit (In Paise) 112 104 -8 V. C. on Fuel (Rs. in Crs.) 340.67 361.94 21.27 V. C. per Unit (In paise) 174 185 11 Total Cost (Rs. in Crs.) 559.96 565.72 5.76 Ex-bus Energy Sent Out (kwh) 1958.00 1957.11 -0.89
Total Cost per Unit (In Paise) 286 289 3
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 78 of 176
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 79 of 176
7.4
Section - 4
Multi Year Tariff
for
Obra ‘B’
Thermal Power Station
for
FY 2009-10 to 2013-14
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 80 of 176
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 81 of 176
7.4.1 ARR and MYT as according to petition
In the petition, UPRVUNL has proposed the fixed, variable and total
charges for the electricity sent out as given in the table below:
Table 7.4. 1 Obra ‘B’ 2009-10 2010-11 2011-12 2012-13 2013-14
Energy Sent out (MU) 5178 5435 5784 6058 6407
Fixed Charges (`) 0.63 0.84 1.13 1.12 1.06
Variable Charges (`) 1.34 1.40 1.46 1.52 1.59
Total Charges (`) 1.97 2.24 2.59 2.64 2.65
ARR (` in Cr.) 1020.066 1217.44 1498.056 1599.312 1697.855
7.4.2 ARR and MYT as determined by the Commission
7.4.2.1 Capacity (Fixed) Charges
(a) Provisions under Regulations:
For determination of components of fixed charges for MYT period of FY
2009-10 to 2013-14, the Commission opines that the parameters
provided under UPERC (Terms & Conditions of Generation Tariff)
Regulations, 2009 shall be considered. Hence, the Commission has
decided to allow the components of fixed charges as below:
Table 7.4. 2 Components of Fixed Charge Value Remark
Return on equity 15.5% As per the Regulations
Interest on Loans 11.46% Weighted average of interest on loans for FY 2011-12 to FY 2013-14 as per form 13 of ARR
O & M Expenses Normative As per the Regulations
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 82 of 176
Components of Fixed Charge Value Remark
Compensation Allowance ` 0.65 lacs /MW As per the Regulations
Advance Against Depreciation
Zero As per the Regulations
Interest on working capital 12.25 % As per the Regulations
(b) R & M of Plant
Obra ‘B’ Power Station (5 x 200 MW) is more than 28 years old for which
a comprehensive Refurbishment Scheme involving expenditure of Rs
1635.00 Cr.. has been approved by the Commission vide order dated
7.11.06.
(c) Gross Fixed Assets (GFA) and its Components
The valuation of GFA duly supported with the financing program and the
value of NFA is essential to be worked out at the end of each financial
year for the determination of Return on Equity, Interest on balance
Loans and Depreciation. Therefore, the GFA and NFA at the end of
each financial year commencing from FY 2009-10 FY 2013-14 has been
worked out alongwith Equity and Debts taking base figures as allowed
under Commission’s Tariff Order for FY 2008-09.
Table 7.4. 3
Calculation of GFA & NFA including f inancing
OBRA 'B ' Power Station 2009-10 2010-11 2011-12 2012-13 2013-14
4 Maintenance Spares @20% O & M Exp. 36.40 39.10 41.98 45.08 48.39
5
Receivables equivalent to 2 months charges for sale of electricity
172.03 206.90 250.93 263.27 281.77
6 Working Capital 319.53 367.18 426.67 453.86 490.06
7 Rate of Interest 12.25 12.25 12.25 12.25 12.25
8 I W C 39.14 44.98 52.27 55.60 60.03
*The Cost of fuel has been taken from Tables 7.4.9 and 7.4.10.
Table 7.4. 7
IWC during the Control Period as claimed by UPRVUNL
Particulars 2009-10 2010-11 2011-12 2012-13 2013-14 Working Capital 341.75 391.08 456.69 490.79 526.61 Rate of Interest 12.25% 12.25% 12.25% 12.25% 12.25% I W C 41.86 47.91 55.94 60.12 64.51
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 85 of 176
(f) Capacity (Fixed) Charges
Based on above the capacity charges as claimed by UPRVUNL and as
approved by the Commission are tabulated herein for the MYT period of
F.Y. 2009-10 to 2013-14. Ex-bus energy sent out has been taken from
Table 7.4.10.
Table 7.4. 8
Fixed Charges as claimed by UPRVUNL and as approved by the Commission
Particulars FY 10 FY 11
As claimed
by UPRVUNL
As determined
by the Commission
Diff. (if any)
As claimed
by UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan 14.13 33.79 19.66 51.36 85.76 34.40
Depreciation 28.17 28.20 0.03 51.04 51.00 -0.04 Advance against Depreciation
0.00 0.00 0.00 29.55 29.55 0.00
Return on Equity 29.49 27.85 -1.64 49.77 48.13 -1.64
O & M Expenses 203.35 182.00 -21.35 221.46 195.48 -25.98
Return on Equity 70.04 68.40 -1.64 70.04 68.40 -1.64 O & M Expenses 240.99 209.91 -31.08 255.16 225.42 -29.74 Compensation 7.02 7.02 0.00 7.02 7.02 0.00
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 86 of 176
Particulars FY 12 FY 13
As claimed
by UPRVUNL
As determined
by the Commission
Diff. (if any)
As claimed
by UPRVUNL
As determined by
the Commis
sion
Diff. (if any)
Allowance Interest on Working Capital 55.94 52.27 -3.67 60.12 55.60 -4.52
Total : 652.35 643.29 -9.06 679.67 637.72 -41.95 Ex-bus Energy Sent Out (kwh) 5783.00 5783.00 0.00 6052.00 6052.00 0.00
Fixed Cost per Unit 1.13 1.11 -0.02 1.12 1.05 -0.07
Particulars FY 14 As claimed
by UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan 118.71 124.52 5.81 Depreciation 76.14 76.10 -0.04 Advance against Depreciation 71.94 71.94 0.00 Return on Equity 70.04 68.40 -1.64 O & M Expenses 270.16 241.95 -28.21 Compensation Allowance 7.02 7.02 0.00 Interest on Working Capital 64.51 60.03 -4.48 Total : 678.52 649.96 -28.56 Ex-bus Energy Sent Out (kwh) 6408.00 6408.00 0.00 Fixed Cost per Unit 1.06 1.01 -0.04
7.4.2.2 Variable Charges:
(a) Weighted Average Cost and Gross Calorific Valu e of Coal and Oil
The UPRVUNL was advised by the Commission to provide the details of
weighted average cost of coal and oil as well as the weighted average
calorific values actually incurred / availed during the financial year 2009-10
which is the first year of the MYT. On the basis of details provided by
UPRVUNL, the cost of coal and oil as well as calorific values has been
worked out as under:
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 87 of 176
Table 7.4. 9 Weighted Average Cost and Gross Calorific Value of Coal and Oil
Total Cost of Oil @ ` ` in Cr. 41.26 43.56 46.54 48.80 51.67
Total Cost of Coal @ ` ` in Cr. 712.49 781.09 868.04 948.68 1048.99
Total Cost of Fuel (Oil & Coal) ` in Cr. 753.74 824.65 914.57 997.48 1100.66
Rate of Energy Charges from secondary Fuel Oil Ex-bus
Paise/Kwh 7.97 8.01 8.05 8.06 8.06
Rate of Energy Charges from Coal Ex-bus
Paise/Kwh 137.60 143.72 150.10 156.75 163.70
Rate of Energy Charges Ex-bus per Kwh
Paise/Kwh 145.57 151.73 158.15 164.82 171.76
(c) Adjustment of Rate of Energy Charge on Account of
Variation in price or Heat Value of Fuels:
The above variable cost derived by the Commission on the basis of the
information provided by the UPRVUNL based on provisional annual
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 89 of 176
accounts report for the Financial Year 2009-10 shall be applicable for the
financial year 2009-10 and thereafter the variable cost have been
derived after allowing normal increase in the cost of fuel @ 5% per year.
However, the beneficiary will make the payment of the variable cost to
be derived on the basis of weighted average cost of oil as well as coal
including the weighted average Gross Calorific Value of both these
elements of fossil foil to be verified by the Practicing Cost Accountant in
support of the same.
“However, UPRVUNL shall be entitled to recover / ad just any
change in fuel cost according to the provisions set out in the
Generation Regulations. Fuel price variation shall be claimed based
on actual audited cost of fuel and GCV on month to month basis.”
7.4.2.3 Total Charges (Cost):
The overall tariff comprises two parts, Fixed and Variable. The Annual
Capacity (Fixed) Charge consists of Interest on loan capital, Depreciation,
ROE, O&M, IWC and Compensation Allowance and Energy (Variable)
Charges consists coal and secondary oil cost per kWh of the electricity
generated. The total charges (costs) as determined by the Commission for
Obra ‘B’ Thermal Power Station for the MYT period of 2009-10 to 2013-14
as against claimed by UPRVUNL are summarized in the table below.
Table 7.4. 11 Cost per kWh as claimed by UPRVUNL with those as al lowed
by the Commission FY 10 FY 11
Particulars As claimed by UPRVUNL
As determined
by the Commission
Diff. (if any)
As claimed by UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan 14.13 33.79 19.66 51.36 85.76 34.40
Depreciation 28.17 28.20 0.03 51.04 51.00 -0.04 A A D 0.00 0.00 0.00 29.55 29.55 0.00 Return on 29.49 27.85 -1.64 49.77 48.13 -1.64
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 90 of 176
FY 10 FY 11 Particulars As
claimed by UPRVUNL
As determined
by the Commission
Diff. (if any)
As claimed by UPRVUNL
As determined
by the Commission
Diff. (if any)
Equity O & M Expenses 203.35 182.00 -21.35 221.46 195.48 -25.98
Com. Allowance 6.60 6.60 0.00 6.81 6.81 0.00
I W C 41.86 39.14 -2.72 47.91 44.98 -2.93 Fixed Cost (` in Cr..) 323.60 317.59 -6.01 457.90 461.70 3.80
F. C. per Unit (In Paise)
62 61 -1 84 85 1
V. C. on Fuel (` in Cr..) 694.38 753.74 59.36 760.03 824.65 64.62
V. C. per Unit (In paise) 134 146 11 140 152 12
Total Cost (` in Cr..) 1017.98 1071.33 53.35 1217.93 1286.35 68.42
Ex-bus Energy Sent Out (kwh) 5178.00 5178.00 0.00 5435.00 5435.00 0.00
Total Cost per Unit (In Paise) 197 207 10 224 237 13
FY 12 FY 13
Particulars As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
As claimed by UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan
114.59 141.96 27.37 139.25 133.24 -6.01
Depreciation 76.14 76.10 -0.04 76.14 76.10 -0.04
A A D 87.63 87.63 0.00 71.94 71.94 0.00 Return on Equity
70.04 68.40 -1.64 70.04 68.40 -1.64
O & M Expenses
240.99 209.91 -31.08 255.16 225.42 -29.74
Com. Allowance
7.02 7.02 0.00 7.02 7.02 0.00
I W C 55.94 52.27 -3.67 60.12 55.60 -4.52 Fixed Cost (` in Cr..) 652.35 643.29 -9.06 679.67 637.72 -41.95
F. C. per Unit (In Paise) 113 111 -2 112 105 -7
V. C. on Fuel (` in Cr..)
843.29 914.57 71.28 920.11 997.48 77.37
V. C. per Unit (In paise) 146 158 12 152 165 13
Total Cost (` in Cr..)
1495.64 1557.86 62.22 1599.78 1635.20 35.42
Ex-bus Energy Sent Out (kwh) 5783.00 5783.00 0.00 6052.00 6052.00 0.00
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 91 of 176
FY 12 FY 13 Particulars As claimed
by UPRVUNL
As determined
by the Commission
Diff. (if any)
As claimed by UPRVUNL
As determined
by the Commission
Diff. (if any)
Total Cost per Unit (In Paise) 259 269 11 264 270 6
FY 14 Particulars As claimed
by UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan 118.71 124.52 5.81 Depreciation 76.14 76.10 -0.04 A A D 71.94 71.94 0.00 Return on Equity 70.04 68.40 -1.64 O & M Expenses 270.16 241.95 -28.21 Com. Allowance 7.02 7.02 0.00 I W C 64.51 60.03 -4.48 Fixed Cost (` in Cr..) 678.52 649.96 -28.56 F. C. per Unit (In Paise) 106 101 -4 V. C. on Fuel (` in Cr..) 1015.65 1100.66 85.01 V. C. per Unit (In paise) 158 172 13 Total Cost (` in Cr..) 1694.17 1750.63 56.46 Ex-bus Energy Sent Out (kwh) 6408.00 6408.00 0.00
Total Cost per Unit (In Paise) 264 273 9
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 92 of 176
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 93 of 176
7.5
Section - 5
Multi Year Tariff
for
Panki
Thermal Power Station
for
FY 2009-10 to 2013-14
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 94 of 176
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 95 of 176
7.5.1 ARR and MYT as according to petition
In the petition, UPRVUNL has proposed the fixed, variable and total
charges for the electricity sent out as given in the table below:
Table 7.5. 1
Panki 2009-10 2010-11 2011-12 2012-13 2013-14
Energy Sent out (MU) 982 1001 1092 1189 1233
Fixed Charges (`) 1.13 1.16 1.36 1.86 2.09
Variable Charges (`) 2.35 2.44 2.53 2.61 2.7
Total Charges (`) 3.48 3.6 3.89 4.47 4.79
ARR (` In Cr.) 341.73 360.36 424.78 531.48 590.60
7.5.2 ARR and MYT as determined by the Commission
7.5.2.1 Capacity (Fixed) Charges
(a) Provisions under Regulations:
For determination of components of fixed charges for MYT period of FY
2009-10 to 2013-14, the Commission opines that the parameters provided
under UPERC (Terms & Conditions of Generation Tariff) Regulations,
2009 shall be considered. Hence, the Commission has decided to allow
the components of fixed charges as below:
Table 7.5. 2 Components of Fixed
Charge Value Remark
Return on equity 15.5% As per the Regulations
Interest on Loans 11.55% Weighted average of interest on loans for FY 2012-13 to FY 2013-14 as per form 13 of ARR
O & M Expenses As per petition
Compensation Allowance ` 0.65 lacs /MW As per the Regulations
Advance Against Depreciation Zero As per the Regulations
Interest on working capital 12.25 % As per the Regulations
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 96 of 176
(b) R & M of Plant
Panki Power Station (2 x 105 MW) is more than 33 years old for which a
comprehensive Refurbishment Scheme has been proposed by
UPRVUNL involving expenditure of Rs 550.00 Cr.. In support of the
proposed Renovation and Modernization (R&M) plan neither any
Detailed Project Report (DPR) nor its financial closure as agreed upon
by the Power Finance Corporation (PFC) and the State Government has
been provided by UPRVUNL. The proposal has not been submitted to
the Commission for approval as yet. Therefore, the Commission decides
not to allow the capitalization on R&M scheme for MYT period of FY
2009-10 to 2013-14 as claimed by UPRVUNL.
(c) Gross Fixed Assets (GFA) and its Components
The valuation of GFA duly supported with the financing program and the
value of NFA is essential to be worked out at the end of each financial
year for the determination of Return on Equity, Interest on balance
Loans and Depreciation. Therefore, the GFA and NFA at the end of
each financial year commencing from FY 2009-10 FY 2013-14 has been
worked out alongwith Equity and Debts taking base figures as allowed
4 Maintenance Spares @20% O & M Exp. 15.91 16.87 18.95 21.21 22.48
5
Receivables equivalent to 2 months charges for sale of electricity
62.56 65.84 70.18 74.81 79.64
6 Working Capital 120.33 126.93 136.27 146.25 155.81
7 Rate of Interest 12.25 12.25 12.25 12.25 12.25
8 I W C 14.74 15.55 16.69 17.92 19.09
*The Cost of fuel has been taken from Tables 7.5.9 and 7.5.10.
Table 7.5. 7
IWC during the Control Period as claimed by UPRVUNL Particulars 2009-10 2010-11 2011-12 2012-13 2013-14 Working Capital 117.74 124.26 143.25 170.08 185.28 Rate of Interest 12.25% 12.25% 12.25% 12.25% 12.25% I W C 14.42 15.22 17.55 20.83 22.70
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 99 of 176
(f) Capacity (Fixed) Charges
Based on above the capacity charges as claimed by UPRVUNL and as
approved by the Commission are tabulated herein for the MYT period of
F.Y. 2009-10 to 2013-14. Ex-bus energy sent out has been taken from
Table 7.5.10.
Table 7.5. 8
Fixed Charges as claimed by UPRVUNL and as approved by the Commission
Total Cost of Oil @ ` ` in Cr. 11.86 12.16 12.44 12.69 13.12 Total Cost of Coal @ ` ` in Cr. 266.04 281.32 297.37 314.23 337.11
Total Cost of Fuel (Oil & Coal) ` in Cr. 277.91 293.48 309.81 326.92 350.23
Rate of Energy Charges from secondary Fuel Oil Ex-bus
Paise/Kwh 12.07 12.14 12.03 12.03 12.02
Rate of Energy Charges from Coal Ex-bus
Paise/Kwh 270.71 281.00 287.72 297.86 308.78
Rate of Energy Charges Ex-bus per Kwh
Paise/Kwh 282.78 293.14 299.75 309.89 320.80
(c) Adjustment of Rate of Energy Charge on Account of Variation in price or Heat Value of Fuels:
The above variable cost derived by the Commission on the basis of the
information provided by the UPRVUNL based on provisional annual
accounts report for the Financial Year 2009-10 shall be applicable for the
financial year 2009-10 and thereafter the variable cost have been derived
after allowing normal increase in the cost of fuel @ 5% per year. However,
the beneficiary will make the payment of the variable cost to be derived on
the basis of weighted average cost of oil as well as coal including the
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 103 of 176
weighted average Gross Calorific Value of both these elements of fossil
foil to be verified by the Practicing Cost Accountant in support of the
same.
“However, UPRVUNL shall be entitled to recover / ad just any
change in fuel cost according to the provisions set out in the
Generation Regulations. Fuel price variation shall be claimed based
on actual audited cost of fuel and GCV on month to month basis.”
7.5.2.3 Total Charges (Cost):
The overall tariff comprises two parts, Fixed and Variable. The Annual
Capacity (Fixed) Charge consists of Interest on loan capital, Depreciation,
ROE, O&M, IWC and Compensation Allowance and Energy (Variable)
Charges consists coal and secondary oil cost per kWh of the electricity
generated. The total charges (costs) as determined by the Commission for
Panki Thermal Power Station for the MYT period of 2009-10 to 2013-14 as
against claimed by UPRVUNL are summarized in the table below.
Table 7.5. 11 Cost per kWh as claimed by UPRVUNL with those as al lowed
by the Commission Particulars FY 10 FY 11
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan 3.37 3.92 0.55 2.94 3.24 0.30 Depreciation 6.25 5.88 -0.37 6.25 5.88 -0.37 A A D 0.00 0.00 0.00 0.00 0.00 0.00 Return on Equity 6.01 6.74 0.73 6.01 6.74 0.73 O & M Expenses 79.55 79.55 0.00 84.33 84.33 0.00 Com. Allowance 1.37 1.37 0.00 1.37 1.37 0.00 I W C 14.42 14.74 0.32 15.22 15.55 0.33 Fixed Cost (Rs. in Crs.) 110.97 112.21 1.24 116.12 117.12 1.00
F. C. per Unit (In Paise) 113 114 1 116 117 1
V. C. on Fuel (Rs. in Crs.) 231.22 277.91 46.69 244.21 293.48 49.27
V. C. per Unit (In paise) 235 283 47 244 293 49
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 104 of 176
Particulars FY 10 FY 11 As claimed
by UPRVUNL
As determined
by the Commission
Diff. (if any)
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
Total Cost (Rs. in Crs.) 342.19 390.11 47.92 360.33 410.60 50.27
Ex-bus Energy Sent Out (kwh) 982.00 982.76 0.76 1001.00 1001.16 0.16
Total Cost per Unit (In Paise) 348 397 48 360 410 50
Particulars FY 12 FY 13
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan 4.29 2.57 -1.72 43.45 1.89 -41.56 Depreciation 15.94 5.88 -10.06 26.05 5.88 -20.17 A A D 0.00 0.00 0.00 0.00 0.00 0.00 Return on Equity 14.54 6.74 -7.80 23.06 6.74 -16.32 O & M Expenses 94.73 94.73 0.00 106.06 106.06 0.00 Com. Allowance 1.46 1.46 0.00 1.56 1.56 0.00 I W C 17.55 16.69 -0.86 20.83 17.92 -2.91 Fixed Cost (Rs. in Crs.) 148.51 128.07 -20.44 221.01 140.05 -80.96
F. C. per Unit (In Paise) 136 124 -12 186 133 -53
V. C. on Fuel (Rs. in Crs.) 276.23 309.81 33.58 310.95 326.92 15.97
V. C. per Unit (In paise) 253 300 47 262 310 48
Total Cost (Rs. in Crs.) 424.74 437.88 13.14 531.96 466.97 -64.99
Ex-bus Energy Sent Out (kwh)
1092.00 1033.55 -58.45 1189.00 1054.95 -134.05
Total Cost per Unit (In Paise) 389 424 35 447 443 -5
Particulars FY 14
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan 52.53 1.21 -51.32 Depreciation 26.05 5.88 -20.17 A A D 18.81 0.00 -18.81 Return on Equity 23.06 6.74 -16.32 O & M Expenses 112.40 112.40 0.00 Com. Allowance 1.56 1.56 0.00 I W C 22.70 19.09 -3.61 Fixed Cost (Rs. in Crs.) 257.11 146.88 -110.23
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 105 of 176
Particulars FY 14 As claimed
by UPRVUNL
As determined
by the Commission
Diff. (if any)
F. C. per Unit (In Paise) 209 135 -74 V. C. on Fuel (Rs. in Crs.) 333.16 350.23 17.07 V. C. per Unit (In paise) 270 321 51 Total Cost (Rs. in Crs.) 590.27 497.11 -93.16 Ex-bus Energy Sent Out (kwh) 1233.00 1091.74 -141.26 Total Cost per Unit (In Paise) 479 455 -23
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 106 of 176
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 107 of 176
7.6
Section - 6
Multi Year Tariff
for
Harduaganj
Thermal Power Station
for
FY 2009-10 to 2013-14
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 108 of 176
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 109 of 176
7.6.1 ARR and MYT as according to petition
In the petition, UPRVUNL has proposed the fixed, variable and total
charges for the electricity sent out as given in the table below:
Interest on Working Capital 21.52 15.92 -5.60 23.18 18.77 -4.41
Total : 234.50 216.65 -17.85 245.21 226.30 -18.91 Ex-bus Energy Sent Out (kwh) 970.00 850.63 -119.37 1027.00 1037.79 10.79
Fixed Cost per Unit 2.42 2.55 0.13 2.39 2.18 -0.21
Particulars FY 14 As claimed
by UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan 37.16 42.99 5.83 Depreciation 29.11 28.96 -0.15 Advance against Depreciation 20.82 10.84 -9.98 Return on Equity 33.15 26.20 -6.95 O & M Expenses 99.34 99.34 0.00 Compensation Allowance 1.53 1.53 0.00 Interest on Working Capital 24.99 20.16 -4.83 Total : 246.10 230.03 -16.07 Ex-bus Energy Sent Out (kwh) 1105.00 1105.00 0.00 Fixed Cost per Unit 2.23 2.08 -0.15
7.6.2.2 Variable Charges:
(a) Weighted Average Cost and Gross Calorific Value of Coal and Oil
The UPRVUNL was advised by the Commission to provide the details of
weighted average cost of coal and oil as well as the weighted average
calorific values actually incurred / availed during the financial year 2009-
10 which is the first year of the MYT. On the basis of details provided by
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 115 of 176
UPRVUNL, the cost of coal and oil as well as calorific values has been
worked out as under:
Table 7.6. 9
Weighted Average Cost and Gross Calorific Value of Coal and Oil for F.Y. 2009-10 .
Total Cost of Coal @ ` ` in Cr. 160.93 124.05 231.56 298.78 329.67
Total Cost of Fuel (Oil & Coal)
` in Cr. 169.85 130.72 243.76 313.90 345.63
Rate of Energy Charges from secondary Fuel Oil Ex-bus
Paise/Kwh 14.60 14.63 14.34 14.57 14.44
Rate of Energy Charges from Coal Ex-bus
Paise/Kwh 263.39 272.03 272.23 287.90 298.35
Rate of Energy Charges Ex-bus per Kwh
Paise/Kwh 277.99 286.66 286.57 302.47 312.79
(c) Adjustment of Rate of Energy Charge on Account of Variation in price or Heat Value of Fuels:
The above variable cost derived by the Commission on the basis of the
information provided by the UPRVUNL based on provisional annual
accounts report for the Financial Year 2009-10 shall be applicable for the
financial year 2009-10 and thereafter the variable cost have been derived
after allowing normal increase in the cost of fuel @ 5% per year. However,
the beneficiary will make the payment of the variable cost to be derived on
the basis of weighted average cost of oil as well as coal including the
weighted average Gross Calorific Value of both these elements of fossil
foil to be verified by the Practicing Cost Accountant in support of the
same.
“However, UPRVUNL shall be entitled to recover / ad just any
change in fuel cost according to the provisions set out in the
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 118 of 176
Generation Regulations. Fuel price variation shall be claimed based
on actual audited cost of fuel and GCV on month to month basis.”
7.6.2.3 Total Charges (Cost):
The overall tariff comprises two parts, Fixed and Variable. The Annual
Capacity (Fixed) Charge consists of Interest on loan capital, Depreciation,
ROE, O&M, IWC and Compensation Allowance and Energy (Variable)
Charges consists coal and secondary oil cost per kWh of the electricity
generated. The total charges (costs) as determined by the Commission for
Harduaganj Thermal Power Station for the MYT period of 2009-10 to
2013-14 as against claimed by UPRVUNL are summarized in the table
below.
Table 7.6. 11 Cost per kWh as claimed by UPRVUNL with those as al lowed
by the Commission
Particulars FY 10 FY 11 As claimed
by UPRVUNL
As determined
by the Commission
Diff. (if any)
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan 6.21 1.88 -4.33 9.75 16.94 7.19 Depreciation 9.99 9.70 -0.29 14.99 14.70 -0.29 A A D 3.15 0.00 -3.15 17.01 4.10 -12.91 Return on Equity 12.73 12.25 -0.48 19.20 12.25 -6.95 O & M Expenses 74.43 74.43 0.00 79.08 79.08 0.00 Com. Allowance 1.43 1.43 0.00 1.43 1.43 0.00 I W C 16.44 10.73 -5.71 17.93 10.07 -7.86 Fixed Cost (Rs. in Crs.) 124.38 110.42 -13.96 159.39 138.58 -20.81
F. C. per Unit (In Paise) 146 181 35 183 304 121
V. C. on Fuel (Rs. in Crs.) 278.75 169.85 -108.90 293.78 130.72 -163.06
V. C. per Unit (In paise) 327 278 -49 337 287 -50
Total Cost (Rs. in Crs.) 403.13 280.28 -122.85 453.17 269.29 -183.88
Ex-bus Energy Sent Out (kwh) 853.00 611.00 -242.00 872.00 456.00 -416.00
Total Cost per Unit (In Paise) 473 459 -14 520 591 71
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 119 of 176
Particulars FY 12 FY 13 As
claimed by UPRVUNL
As determined
by the Commission
Diff. (if any)
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan 41.06 50.01 8.95 43.93 46.50 2.57 Depreciation 29.11 28.96 -0.15 29.11 28.96 -0.15 A A D 20.14 6.04 -14.10 20.82 10.84 -9.98 Return on Equity 33.15 26.20 -6.95 33.15 26.20 -6.95 O & M Expenses 87.99 87.99 0.00 93.49 93.49 0.00 Com. Allowance 1.53 1.53 0.00 1.53 1.53 0.00 I W C 21.52 15.92 -5.60 23.18 18.77 -4.41 Fixed Cost (Rs. in Crs.) 234.50 216.65 -17.85 245.21 226.30 -18.91
F. C. per Unit (In Paise) 242 255 13 239 218 -21
V. C. on Fuel (Rs. in Crs.) 336.88 243.76 -93.12 367.60 313.90 -53.70
V. C. per Unit (In paise) 347 287 -61 358 302 -55
Total Cost (Rs. in Crs.) 571.38 460.42 -110.96 612.81 540.19 -72.62
Ex-bus Energy Sent Out (kwh)
970.00 850.63 -119.37 1027.00 1037.79 10.79
Total Cost per Unit (In Paise) 589 541 -48 597 521 -76
Particulars FY 14
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan 37.16 42.99 5.83 Depreciation 29.11 28.96 -0.15 A A D 20.82 10.84 -9.98 Return on Equity 33.15 26.20 -6.95 O & M Expenses 99.34 99.34 0.00 Com. Allowance 1.53 1.53 0.00 I W C 24.99 20.16 -4.83 Fixed Cost (Rs. in Crs.) 246.10 230.03 -16.07 F. C. per Unit (In Paise) 223 208 -15 V. C. on Fuel (Rs. in Crs.) 406.62 345.63 -60.99 V. C. per Unit (In paise) 368 313 -55 Total Cost (Rs. in Crs.) 652.72 575.66 -77.06 Ex-bus Energy Sent Out (kwh) 1105.00 1105.00 0.00 Total Cost per Unit (In Paise) 591 521 -70
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 120 of 176
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 121 of 176
7.7
Section – 7
Multi Year Tariff
for
Parichha
Thermal Power Station
for
FY 2009-10 to 2013-14
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 122 of 176
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 123 of 176
7.7.1 ARR and MYT as according to petition
In the petition, UPRVUNL has proposed the fixed, variable and total
charges for the electricity sent out as given in the table below:
4 Maintenance Spares @20% O & M Exp. 12.32 13.03 13.79 14.59 15.44
5
Receivables equivalent to 2 months charges for sale of electricity
57.86 62.44 66.23 71.10 77.11
6 Working Capital 108.73 116.22 123.63 132.98 144.36
7 Rate of Interest 12.25 12.25 12.25 12.25 12.25
8 I W C 13.32 14.24 15.15 16.29 17.68
*The Cost of fuel has been taken from Tables 7.7.9 and 7.7.10.
Table 7.7. 7
IWC during the Control Period as claimed by UPRVUNL Particulars 2009-10 2010-11 2011-12 2012-13 2013-14 Working Capital 114.08 122.44 132.61 148.23 161.08 Rate of Interest 12.25% 12.25% 12.25% 12.25% 12.25% I W C 13.97 15.00 16.24 18.16 19.73
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 127 of 176
(f) Capacity (Fixed) Charges
Based on above the capacity charges as claimed by UPRVUNL and as
approved by the Commission are tabulated herein for the MYT period of
F.Y. 2009-10 to 2013-14. Ex-bus energy sent out has been taken from
Table 7.7.10.
Table 7.7. 8 Fixed Charges as claimed by UPRVUNL and as approved by the Commission
V. C. on Fuel (Rs. in Crs.) 241.37 263.82 22.45 255.05 278.87 23.82 V. C. per Unit (In paise) 236 258 22 245 267 23 Total Cost (Rs. in Crs.) 340.22 360.48 20.26 370.68 388.88 18.20 Ex-bus Energy Sent Out (kwh) 1023.00 1023.00 0.00 1043.00 1043.00 0.00
Total Cost per Unit (In Paise) 333 352 20 355 373 17
Particulars FY 12 FY 13
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan 11.53 6.22 -5.31 30.79 4.96 -25.83
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 132 of 176
Particulars FY 12 FY 13
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
Depreciation 14.88 10.05 -4.83 19.93 10.05 -9.88 A A D 4.43 0.00 -4.43 8.51 0.00 -8.51 Return on Equity 15.43 11.64 -3.79 19.69 11.64 -8.05 O & M Expenses 68.96 68.96 0.00 72.97 72.97 0.00 Com. Allowance 1.43 1.43 0.00 1.43 1.43 0.00 I W C 16.24 15.15 -1.09 18.16 16.29 -1.87 Fixed Cost (Rs. in Crs.) 132.90 113.45 -19.45 171.48 117.35 -54.13 F. C. per Unit (In Paise) 123 105 -18 151 104 -48 V. C. on Fuel (Rs. in Crs.) 273.74 299.09 25.35 297.99 325.56 27.57 V. C. per Unit (In paise) 254 277 23 263 287 24 Total Cost (Rs. in Crs.) 406.64 412.54 5.90 469.47 442.90 -26.57 Ex-bus Energy Sent Out (kwh) 1079.00 1079.00 0.00 1133.00 1133.00 0.00
Total Cost per Unit (In Paise) 377 382 5 414 391 -23
Particulars FY 14
As claimed by UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan 28.57 3.70 -24.87 Depreciation 19.93 10.05 -9.88 A A D 14.13 0.00 -14.13 Return on Equity 19.69 11.64 -8.05 O & M Expenses 77.22 77.22 0.00 Com. Allowance 1.43 1.43 0.00 I W C 19.73 17.68 -2.05 Fixed Cost (Rs. in Crs.) 180.70 121.73 -58.97 F. C. per Unit (In Paise) 150 101 -49 V. C. on Fuel (Rs. in Crs.) 328.37 358.63 30.26 V. C. per Unit (In paise) 273 298 25 Total Cost (Rs. in Crs.) 509.07 480.37 -28.70 Ex-bus Energy Sent Out (kwh) 1205.00 1205.00 0.00 Total Cost per Unit (In Paise) 422 399 -24
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 133 of 176
7.8
Section - 8
Multi Year Tariff
for
Parichha Extension
Thermal Power Station
for
FY 2009-10 to 2013-14
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 134 of 176
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 135 of 176
7.8.1 ARR and MYT as according to petition
In the petition, UPRVUNL has proposed the fixed, variable and total
charges for the electricity sent out as given in the table below:
2 Cost of Secondary Fuel Oil for 2 months 2.99 3.14 3.30 3.47 3.64
3
Operation & Maintenance for 1 month
6.37 6.73 7.12 7.53 7.96
4 Maintenance Spares @20% O & M Exp. 15.29 16.16 17.09 18.07 19.10
5
Receivables equivalent to 2 months of fixed charges for sale of electricity
154.77 162.94 167.37 172.11 176.84
6 Total Working Capital 249.36 262.42 271.98 282.14 292.55 7 Rate of Interest 12.25 12.25 12.25 12.25 12.25
8 Interest on Working Capital 30.55 32.15 33.32 34.56 35.84
*The Cost of fuel has been taken from Tables 7.8.9 and 7.8.10.
Table 7.8. 7 IWC during the Control Period as claimed by UPRVUNL
Particulars 2009-10 2010-11 2011-12 2012-13 2013-14 Working Capital 253.62 267.53 277.30 287.69 298.32 Rate of Interest 12.25% 12.25% 12.25% 12.25% 12.25% I W C 31.07 32.77 33.97 35.24 36.54
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 139 of 176
(f) Capacity (Fixed) Charges
Based on above the capacity charges as claimed by UPRVUNL and as
approved by the Commission are tabulated herein for the MYT period of
F.Y. 2009-10 to 2013-14. Ex-bus energy sent out has been taken from
Table 7.8.10.
Table 7.8. 8 Fixed Charges as claimed by UPRVUNL and as approved by the Commission
Particulars FY 10 FY 11
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if
any)
As claimed by
UPRVUNL
As determined
by the Commission
Diff.(if any)
Interest on Loan 115.78 114.12 -1.66 113.92 108.67 -5.25
Total Cost of Oil @ ` ` in Cr. 17.96 18.86 19.80 20.79 21.83
Total Cost of Coal @ ` ` in Cr. 559.52 587.50 616.87 647.72 680.10 Total Cost of Fuel (Oil & Coal) ` in Cr. 577.48 606.36 636.67 668.51 701.93
Rate of Energy Charges from secondary Fuel Oil Ex-bus
Paise/Kwh 6.71 7.04 7.39 7.76 8.15
Rate of Energy Charges from Coal Ex-bus
Paise/Kwh 208.93 219.38 230.35 241.87 253.96
Rate of Energy Charges Ex-bus per Kwh
Paise/Kwh 215.64 226.42 237.74 249.63 262.11
(c) Adjustment of Rate of Energy Charge on Accoun t of
Variation in price or Heat Value of Fuels:
The above variable cost derived by the Commission on the basis of the
information provided by the UPRVUNL based on provisional annual
accounts report for the Financial Year 2009-10 shall be applicable for the
financial year 2009-10 and thereafter the variable cost have been derived
after allowing normal increase in the cost of fuel @ 5% per year. However,
the beneficiary will make the payment of the variable cost to be derived on
the basis of weighted average cost of oil as well as coal including the
weighted average Gross Calorific Value of both these elements of fossil
foil to be verified by the Practicing Cost Accountant in support of the
same.
“However, UPRVUNL shall be entitled to recover / ad just any
change in fuel cost according to the provisions set out in the
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 143 of 176
Generation Regulations. Fuel price variation shall be claimed based
on actual audited cost of fuel and GCV on month to month basis.”
7.8.2.3 Total Charges (Cost):
The overall tariff comprises two parts, Fixed and Variable. The Annual
Capacity (Fixed) Charge consists of Interest on loan capital, Depreciation,
ROE, O&M, IWC and Compensation Allowance and Energy (Variable)
Charges consists coal and secondary oil cost per kWh of the electricity
generated. The total charges (costs) as determined by the Commission for
Parichha Extension Thermal Power Station for the MYT period of 2009-10
to 2013-14 as against claimed by UPRVUNL are summarized in the table
below.
Table 7.8. 11 Cost per kWh as claimed by UPRVUNL with those as al lowed
by the Commission
Particulars FY 10 FY 11
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if
any)
Interest on Loan 115.78 114.12 -1.66 113.92 108.67 -5.25 Depreciation 67.18 67.20 0.02 67.18 67.20 0.02 A A D 36.82 36.82 0.00 58.04 58.04 0.00 Return on Equity 56.54 56.58 0.04 56.54 56.58 0.04 O & M Expenses 79.37 76.44 -2.93 83.96 80.81 -3.15 Com. Allowance 0.00 0.00 0.00 0.00 0.00 0.00 I W C 31.07 30.55 -0.52 32.77 32.15 -0.62 Fixed Cost (Rs. in Crs.) 386.76 381.70 -5.06 412.41 403.44 -8.97
F. C. per Unit (In Paise) 144 143 -2 154 151 -3
V. C. on Fuel (Rs. in Crs.) 501.56 577.48 75.92 526.64 606.36 79.72
V. C. per Unit (In paise) 187 216 28 197 226 30
Total Cost (Rs. in Crs.) 888.32 959.18 70.86 939.05 1009.79 70.74
Ex-bus Energy Sent Out (kwh) 2678.00 2678.00 0.00 2678.00 2678.00 0.00
Total Cost per Unit (In Paise) 332 358 26 351 377 26
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 144 of 176
Particulars FY 12 FY 13
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
As claimed by
UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan 105.77 100.30 -5.47 97.81 92.01 -5.80 Depreciation 67.18 67.20 0.02 67.18 67.20 0.02 A A D 58.04 58.04 0.00 58.04 58.04 0.00 Return on Equity 56.54 56.58 0.04 56.54 56.58 0.04 O & M Expenses 88.82 85.43 -3.39 93.96 90.34 -3.62 Com. Allowance 0.00 0.00 0.00 0.00 0.00 0.00 I W C 33.97 33.32 -0.65 35.24 34.56 -0.68 Fixed Cost (Rs. in Crs.) 410.32 400.86 -9.46 408.77 398.73 -10.04
F. C. per Unit (In Paise) 153 150 -4 153 149 -4
V. C. on Fuel (Rs. in Crs.) 552.97 636.67 83.70 580.62 668.51 87.89
V. C. per Unit (In paise) 206 238 31 217 250 33
Total Cost (Rs. in Crs.) 963.29 1037.54 74.25 989.39 1067.24 77.85
Ex-bus Energy Sent Out (kwh) 2678.00 2678.00 0.00 2678.00 2678.00 0.00
Total Cost per Unit (In Paise) 360 387 28 369 399 29
Particulars FY 14
As claimed by UPRVUNL
As determined
by the Commission
Diff. (if any)
Interest on Loan 87.73 81.78 -5.95 Depreciation 67.18 67.20 0.02 A A D 58.04 58.04 0.00 Return on Equity 56.54 56.58 0.04 O & M Expenses 99.40 95.51 -3.89 Com. Allowance 0.00 0.00 0.00 I W C 36.54 35.84 -0.70 Fixed Cost (Rs. in Crs.) 405.43 394.94 -10.49 F. C. per Unit (In Paise) 151 147 -4 V. C. on Fuel (Rs. in Crs.) 609.65 701.93 92.28 V. C. per Unit (In paise) 228 262 34 Total Cost (Rs. in Crs.) 1015.08 1096.87 81.79 Ex-bus Energy Sent Out (kwh) 2678.00 2678.00 0.00 Total Cost per Unit (In Paise) 379 410 31
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 145 of 176
7.9
Section - 9
Multi Year Tariff
for
Harduaganj Extension
Thermal Power Station
for
FY 2010-11 to 2013-14
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 146 of 176
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 147 of 176
7.9.1 ARR and MYT as according to petition
In the petition, UPRVUNL has proposed the fixed, variable and total
charges for the electricity sent out as given in the table below:
5 Receivables equivalent to 2 months charges for sale of electricity
198.50 204.32 217.67 222.45
6 Working Capital 313.49 325.26 344.87 356.23 7 Rate of Interest 12.25 12.25 12.25 12.25 8 I W C 38.40 39.84 42.25 43.64
*The Cost of fuel has been taken from Tables 7.9.9 and 7.9.10.
Table 7.9. 7 IWC during the Control Period as claimed by UPRVUNL
Particulars 2010-11 2011-12 2012-13 2013-14 Working Capital 339.91 363.51 384.18 396.24 Rate of Interest 12.25% 12.25% 12.25% 12.25% I W C 41.64 44.53 47.06 48.54
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 151 of 176
(f) Capacity (Fixed) Charges
Based on above the capacity charges as claimed by UPRVUNL and as
approved by the Commission are tabulated herein for the MYT period of
F.Y. 2010-11 to 2013-14. Ex-bus energy sent out has been taken from
Table 7.9.10.
Table 7.9. 8
Fixed Charges as claimed by UPRVUNL and as approved by the Commission
Particulars FY 11 FY 12 As
claimed by
UPRVUNL
As determined
by the Commission
Diff . (if any)
As claimed
by UPRVUNL
As determined
by the Commission
Diff . (if
any)
Interest on Loan 165.16 181.61 16.45 216.20 171.23 -44.97
Depreciation 93.90 93.90 0.00 93.90 93.90 0.00 Advance against Depreciation
0.00 0.00 0.00 4.91 4.91 0.00
Return on Equity 121.13 121.13 0.00 121.13 121.13 0.00
O & M Expenses 96.21 96.20 -0.01 101.71 101.70 -0.01
4 Maintenance Spares @20% O & M Exp. 19.24 20.34 21.51 22.74
5 Receivables equivalent to 2 months charges for sale of electricity
202.23 214.54 221.25 226.83
6 Working Capital 324.78 343.42 356.79 369.37 7 Rate of Interest 12.25 12.25 12.25 12.25 8 I W C 39.79 42.07 43.71 45.25
*The Cost of fuel has been taken from Tables 7.10.9 and 7.10.10.
Table 7.10. 7 IWC during the Control Period as claimed by UPRVUNL
Particulars 2010-11 2011-12 2012-13 2013-14 Working Capital 323.36 351.17 364.15 376.32 Rate of Interest 12.25% 12.25% 12.25% 12.25% I W C 39.61 43.02 44.61 46.10
Multi Year Tariff of UPRVUNL for FY 2009-14
Page 163 of 176
(f) Capacity (Fixed) Charges
Based on above the capacity charges as claimed by UPRVUNL and as
approved by the Commission are tabulated herein for the MYT period of
F.Y. 2010-11 to 2013-14. Ex-bus energy sent out has been taken from
Table 7.10.10.
Table 7.10. 8 Fixed Charges as claimed by UPRVUNL and as approved by the Commission
Particulars FY 11 FY 12
As claimed by
UPRVUNL
As determined
by the Commission
Diff . (if
any)
As claimed by
UPRVUNL
As determined
by the Commission
Diff . (if any)
Interest on Loan 150.43 164.26 13.83 190.31 150.73 -39.58
Depreciation 84.92 84.90 -0.02 84.92 84.90 -0.02 Advance against Depreciation
0.00 0.00 0.00 43.93 43.93 0.00
Return on Equity 109.54 109.54 0.00 109.54 109.54 0.00
O & M Expenses 96.21 96.20 -0.01 101.71 101.70 -0.01
Compensation Allowance
0.00 0.00 0.00 0.00 0.00 0.00
Interest on Working Capital
39.61 39.79 0.18 43.02 42.07 -0.95
Total : 480.71 494.69 13.98 573.43 532.87 -40.56 Ex-bus Energy Sent Out (kwh)
3388.00 3388.00 0.00 3388.00 3388.00 0.00
Cost per Unit 1.42 1.46 0.04 1.69 1.57 -0.12
Particulars FY 13 FY 14
As claimed
by UPRVUNL
As determined
by the Commission
Diff . (if any)
As claimed by
UPRVUNL
As determined
by the Commission
Diff . (if any)
Interest on Loan 173.63 136.24 -37.39 157.12 121.75 -35.37
Depreciation 84.92 84.90 -0.02 84.92 84.90 -0.02 Advance against Depreciation
53.12 53.12 0.00 53.12 53.12 0.00
Return on Equity 109.54 109.54 0.00 109.54 109.54 0.00
O & M Expenses 107.53 107.55 0.02 113.68 113.70 0.02